How are S corps taxed vs LLC?
How are S corps taxed vs LLC? With an S corp, owners pay personal income tax and self-employment tax on a predetermined salary. With an LLC, all company profits pass through to the owners' personal tax returns, and then the owners must pay personal income tax and self-employment tax on the entire amount. Should I do an S Corp or C Corp? C corporations can have foreign owners, unlimited shareholders, and multiple classes of stock. Winner: C corps. S corps are suited for smaller, domestic businesses that want to treat all owners the same way. C corps give companies unlimited...